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Side-by-side financial comparison of Gaming & Leisure Properties, Inc. (GLPI) and Natera, Inc. (NTRA). Click either name above to swap in a different company.
Natera, Inc. is the larger business by last-quarter revenue ($665.5M vs $420.0M, roughly 1.6× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 7.1%, a 49.9% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs 6.3%). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 5.0%).
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women’s health, cancer, and organ health. Natera’s proprietary technology combines novel molecular biology techniques with a suite of bioinformatics software that allows detection down to a single molecule in a tube of blood. Natera operates CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendment...
GLPI vs NTRA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $420.0M | $665.5M |
| Net Profit | $239.4M | $47.3M |
| Gross Margin | — | — |
| Operating Margin | 79.4% | -3.4% |
| Net Margin | 57.0% | 7.1% |
| Revenue YoY | 6.3% | 39.8% |
| Net Profit YoY | 40.5% | 187.9% |
| EPS (diluted) | — | $0.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $420.0M | — | ||
| Q4 25 | $407.0M | $665.5M | ||
| Q3 25 | $397.6M | $592.2M | ||
| Q2 25 | $394.9M | $546.6M | ||
| Q1 25 | $395.2M | $501.8M | ||
| Q4 24 | $389.6M | $476.1M | ||
| Q3 24 | $385.3M | $439.8M | ||
| Q2 24 | $380.6M | $413.4M |
| Q1 26 | $239.4M | — | ||
| Q4 25 | $275.4M | $47.3M | ||
| Q3 25 | $241.2M | $-87.5M | ||
| Q2 25 | $151.4M | $-100.9M | ||
| Q1 25 | $165.2M | $-66.9M | ||
| Q4 24 | $223.6M | $-53.8M | ||
| Q3 24 | $184.7M | $-31.6M | ||
| Q2 24 | $208.3M | $-37.5M |
| Q1 26 | 79.4% | — | ||
| Q4 25 | 89.3% | -3.4% | ||
| Q3 25 | 84.8% | -16.5% | ||
| Q2 25 | 61.3% | -20.2% | ||
| Q1 25 | 65.5% | -15.8% | ||
| Q4 24 | 79.1% | -13.6% | ||
| Q3 24 | 70.4% | -8.9% | ||
| Q2 24 | 77.1% | -10.6% |
| Q1 26 | 57.0% | — | ||
| Q4 25 | 67.6% | 7.1% | ||
| Q3 25 | 60.7% | -14.8% | ||
| Q2 25 | 38.4% | -18.5% | ||
| Q1 25 | 41.8% | -13.3% | ||
| Q4 24 | 57.4% | -11.3% | ||
| Q3 24 | 47.9% | -7.2% | ||
| Q2 24 | 54.7% | -9.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.96 | $0.36 | ||
| Q3 25 | $0.85 | $-0.64 | ||
| Q2 25 | $0.54 | $-0.74 | ||
| Q1 25 | $0.60 | $-0.50 | ||
| Q4 24 | $0.79 | $-0.41 | ||
| Q3 24 | $0.67 | $-0.26 | ||
| Q2 24 | $0.77 | $-0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $274.5M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.0B | $1.7B |
| Total Assets | $13.8B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $274.5M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.0M | ||
| Q2 25 | — | $16.0M | ||
| Q1 25 | — | $17.8M | ||
| Q4 24 | $560.8M | $22.7M | ||
| Q3 24 | $560.8M | $29.5M | ||
| Q2 24 | $560.8M | $90.3M |
| Q1 26 | — | — | ||
| Q4 25 | $7.2B | — | ||
| Q3 25 | $7.2B | — | ||
| Q2 25 | $6.9B | — | ||
| Q1 25 | $6.9B | — | ||
| Q4 24 | $7.7B | — | ||
| Q3 24 | $7.4B | — | ||
| Q2 24 | $6.6B | — |
| Q1 26 | $5.0B | — | ||
| Q4 25 | $4.6B | $1.7B | ||
| Q3 25 | $4.6B | $1.3B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.2B | $1.2B | ||
| Q4 24 | $4.3B | $1.2B | ||
| Q3 24 | $4.3B | $878.5M | ||
| Q2 24 | $4.1B | $836.5M |
| Q1 26 | $13.8B | — | ||
| Q4 25 | $12.9B | $2.4B | ||
| Q3 25 | $12.8B | $1.8B | ||
| Q2 25 | $12.5B | $1.8B | ||
| Q1 25 | $12.1B | $1.7B | ||
| Q4 24 | $13.1B | $1.7B | ||
| Q3 24 | $12.7B | $1.6B | ||
| Q2 24 | $11.8B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.56× | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.63× | — | ||
| Q4 24 | 1.81× | — | ||
| Q3 24 | 1.74× | — | ||
| Q2 24 | 1.60× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $73.9M |
| Free Cash FlowOCF − Capex | — | $37.8M |
| FCF MarginFCF / Revenue | — | 5.7% |
| Capex IntensityCapex / Revenue | — | 5.4% |
| Cash ConversionOCF / Net Profit | — | 1.56× |
| TTM Free Cash FlowTrailing 4 quarters | — | $109.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $73.9M | ||
| Q3 25 | $240.3M | $59.4M | ||
| Q2 25 | $293.4M | $37.6M | ||
| Q1 25 | $252.5M | $44.5M | ||
| Q4 24 | $1.1B | $52.9M | ||
| Q3 24 | $270.4M | $51.8M | ||
| Q2 24 | $252.1M | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $37.8M | ||
| Q3 25 | $183.0M | $37.0M | ||
| Q2 25 | $272.3M | $11.7M | ||
| Q1 25 | $239.6M | $22.6M | ||
| Q4 24 | $1.1B | $34.8M | ||
| Q3 24 | $261.5M | $35.5M | ||
| Q2 24 | $245.0M | $-7.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.7% | ||
| Q3 25 | 46.0% | 6.2% | ||
| Q2 25 | 69.0% | 2.1% | ||
| Q1 25 | 60.6% | 4.5% | ||
| Q4 24 | 275.3% | 7.3% | ||
| Q3 24 | 67.9% | 8.1% | ||
| Q2 24 | 64.4% | -1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.4% | ||
| Q3 25 | 14.4% | 3.8% | ||
| Q2 25 | 5.3% | 4.7% | ||
| Q1 25 | 3.3% | 4.3% | ||
| Q4 24 | 0.0% | 3.8% | ||
| Q3 24 | 2.3% | 3.7% | ||
| Q2 24 | 1.9% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | 4.10× | 1.56× | ||
| Q3 25 | 1.00× | — | ||
| Q2 25 | 1.94× | — | ||
| Q1 25 | 1.53× | — | ||
| Q4 24 | 4.80× | — | ||
| Q3 24 | 1.46× | — | ||
| Q2 24 | 1.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
